Hanmark Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 08789136 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2022

for

HANMARK LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Director:

Mr C N H Seymour

Registered office:

268 Drummond Road

Skegness

Lincolnshire

PE25 3AT

Registered number:

08789136 (England and Wales)

Accountants:

Haines Watts

Chartered Accountants

23 Algitha Road

Skegness

United Kingdom

PE25 2AG

Fixed assets

Tangible assets

4

985

305

Investments

5

28,665

71,846

Investment property

6

229,000

229,000

258,650

301,151

Current assets

Debtors

7

11,131

-

Cash at bank

21,407

42,415

32,538

42,415

Creditors

Amounts falling due within one year

8

2,019

18,549

Net current assets

30,519

23,866

Total assets less current liabilities

289,169

325,017

Creditors

Amounts falling due after more than one year

9

(119,438

)

(158,500

)

Provisions for liabilities

(187

)

(71

)

Net assets

169,544

166,446

Capital and reserves

Called up share capital

11

1,000

1,000

Retained earnings

12

168,544

165,446

Shareholders' funds

169,544

166,446

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 December 2022 and were signed by:

Mr C N H Seymour - Director

1.	Statutory information

Hanmark Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

Straight line over 3 years

Fixtures and fittings

-

Straight line over 3 years

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Fixed asset investments

The unlisted investments are measured at fair value, which is the current market value. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

3.	Employees and directors

The average number of employees during the year was 1 (2021 - 1 ) .

4.	Tangible fixed assets

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

Cost

At 1 April 2021

458

-

458

Additions

-

1,250

1,250

At 31 March 2022

458

1,250

1,708

Depreciation

At 1 April 2021

153

-

153

Charge for year

153

417

570

At 31 March 2022

306

417

723

Net book value

At 31 March 2022

152

833

985

At 31 March 2021

305

-

305

5.	Fixed asset investments

Other

investments

£

Cost or valuation

At 1 April 2021

71,846

Disposals

(70,249

)

Revaluations

27,068

At 31 March 2022

28,665

Net book value

At 31 March 2022

28,665

At 31 March 2021

71,846

Cost or valuation at 31 March 2022 is represented by:

Other

investments

£

Valuation in 2019

3,174

Valuation in 2020

(59,537

)

Valuation in 2021

(29,838

)

Valuation in 2022

67,067

Cost

47,799

28,665

6.	Investment property

Total

£

Fair value

At 1 April 2021

and 31 March 2022

229,000

Net book value

At 31 March 2022

229,000

At 31 March 2021

229,000

The Investment property at 52-54 High Street Skegness Lincolnshire was acquired on the 29 March 2018 at current market value. Mrs C Seymour has a legal charge of £110,000 on the property.

7.

Debtors: amounts falling due within one year

2022

2021

£

£

Trade debtors

1,131

-

Loan Lincolnshire Ltd

10,000

-

11,131

-

8.

Creditors: amounts falling due within one year

2022

2021

£

£

Trade creditors

1,195

981

Corporation tax

-

7,781

VAT

824

1,101

Directors' current accounts

-

8,686

2,019

18,549

9.

Creditors: amounts falling due after more than one year

2022

2021

£

£

Government bounce back loan

9,438

11,000

Loan Mrs C Seymour

110,000

147,500

119,438

158,500

10.	Secured debts

Mrs C Seymour has a legal charge of £110,000 on the property at 52-54 High Street, Skegness, Lincolnshire PE25 3NW

11.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

1,000

Ordinary

£1

1,000

1,000

12.

Reserves

Retained

earnings

£

At 1 April 2021

165,446

Profit for the year

3,098

At 31 March 2022

168,544

Reserves have increased on the market value of fixed asset investments amounting to £27,068. (2021 a decrease of £29,838).

13.	Related party disclosures

Mr C N H Seymour

Director

During the year the company invoiced Claimant Costs Recovery (Northern) Limited a company of which he is a shareholder and director, on an arms length arrangement, for an amount of £21,000 (2021 - £21,000).

2022

2021

£

£

Amount due to related party at the balance sheet date

-

8,686

14.	Ultimate controlling party

The controlling party is Mr C N H Seymour.